Considering the need in affordable housing for the citizens, P Chidambaram introduced additional benefit for the first-home buyers by inserting section 80EE with respect to “Interest on Housing Loan” which is in addition to the existing provision (Sec 24 (b)).
(Paid during F.Y. 2014-15)
Interest already claimed as deduction u/s 80EE in the previous year
80 C Deduction
Interest deductible u/s 24(b)
Interest deductible u/s 80EE